Property for sale in Nauru

Is located in the south of the island, at 0°33′S 166°55′E / -0.55, 166.917 (-0.55, 166.91667). Its area is 1.5 km², and its population was 1,100 in 2003.

Is an island nation in the Micronesian South Pacific. The nearest neighbor is Banaba Island in the Republic of Kiribati, 300 km due east.

Nauru is an island country located in the west of the Pacific Ocean, just below the Equator. Nauru is the smallest independent country in the world.
The country used to enjoy the world’s highest income per capita. But after long decades of Australia’s exhaustion of phosphates in the country, Nauru is now on the verge of insolvency.

Nauru's rich reserves of phosphates - an ingredient for high-grade fertilizer - created enormous wealth during the 1970s and 1980s.

The island's 10,000 inhabitants enjoyed one of the world's highest standards of living, as well as exemption from tax and immigrant labor to perform all menial jobs.

But once the phosphates started to run out, Nauru's finances collapsed - and it has emerged that much of the money salted away in investments has been either lost or stolen.

Infrastructure has collapsed, and payment problems have frequently led to the island being cut off from supplies, including fresh food.

A combination of factors, including poor investments and poor financial management, severely reduced the value of the investment funds and revenues available to the government, and the country became seriously indebted. In November 2004, the sale of Nauru's Australian property portfolio enabled the country to pay off most of its debts.
In a bid to diversify its economic base, Nauru developed an offshore finance industry, notably the registration of a large number of shell banks.